EDA grant to fund Iowa industrial park's rail project

The U.S. Commerce Department's Economic Development Administration (EDA) has awarded a $2.2 million grant to the city of Davenport, Iowa, to fund the construction of an interchange track and rail spur in the city's industrial park.

The new infrastructure will serve a new manufacturing plant and other businesses locating in the park. The project is expected to spur $78.5 million in private investment and create 500 jobs.

"This project will ensure that the Davenport region remains economically competitive and will provide hundreds of jobs for local residents," said U.S. Commerce secretary Wilbur Ross in a press release.

The project will support manufacturing and logistics industries, and builds on assets in the park, which include an EDA-funded transload facility, according to the EDA.